{"id":25787,"date":"2023-05-03T06:18:34","date_gmt":"2023-05-03T06:18:34","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=25787"},"modified":"2023-05-03T06:14:23","modified_gmt":"2023-05-03T06:14:23","slug":"international-monetary-funds-dire-eskom-warning","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning","title":{"rendered":"International Monetary Fund\u2019s dire Eskom warning"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The International Monetary Fund (IMF) has warned that South Africa\u2019s electricity crisis poses a significant threat to the country\u2019s fiscal health.<\/b><\/p>\n

It has also stated that Eskom must reduce its reliance on government funding. Paulo Medas, Deputy Director of the IMF\u2019s fiscal affairs department said SA\u2019s electricity crisis and Eskom affects the country\u2019s fiscal health in two ways.<\/p>\n

The first effect is indirect, as they impact economic growth and tax revenues. This undermines SA\u2019s fiscal accounts. In March, the IMF lowered its 2023 economic growth projection for SA to a measly 0.1 per cent \u2013 a 1.1 per cent downward revision.<\/p>\n

The IMF followed a host of organisations that have also taken a more bearish view of the country\u2019s growth prospects, including rating agency Fitch Solutions.<\/p>\n

\u201cThis downward revision mainly reflects the much more severe than expected outages in the energy sector, especially in the last quarter of 2022,\u201d said Dani Leigh, who heads the World Economic Studies division in the IMF\u2019s research department.<\/p>\n

The second effect is direct, as Eskom requires government support, reflecting the IMF\u2019s projections for South Africa\u2019s debt numbers. The country\u2019s debt burden has risen steadily over the last decade but is<\/p>\n

set to increase even further following the government\u2019s E254 billion (R254 billion) Eskom debt bailout.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The International Monetary Fund (IMF) has warned that South Africa\u2019s electricity crisis poses a significant threat to the country\u2019s fiscal health. It has also stated that Eskom must reduce its reliance on government funding. Paulo Medas, Deputy Director of the IMF\u2019s fiscal affairs department said SA\u2019s electricity crisis and Eskom affects the […]<\/p>\n","protected":false},"author":84,"featured_media":25786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,248,249],"class_list":["post-25787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nInternational Monetary Fund\u2019s dire Eskom warning - Eswatini<\/title>\n<meta name=\"description\" content=\"The International Monetary Fund (IMF) has warned that South Africa\u2019s electricity crisis poses a significant threat to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Monetary Fund\u2019s dire Eskom warning\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) has warned that South Africa\u2019s electricity crisis poses a significant threat to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-03T06:18:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/05\/postQueueImg_1683075039.03.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"International Monetary Fund\u2019s dire Eskom warning\",\"datePublished\":\"2023-05-03T06:18:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning\"},\"wordCount\":237,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/05\/postQueueImg_1683075039.03.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/international-monetary-funds-dire-eskom-warning\",\"name\":\"International Monetary Fund\u2019s dire Eskom warning - 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